REPORT TO THE CITY COUNCIL
FROM: JENNIFER CLARK, Director
Planning and Development Department
BY: PHIL SKEI, Assistant Director
Planning and Development Department
CORRINA NUNEZ, Project Manager
Community Development Division
SUBJECT
Title
Actions pertaining to the Blythe Village LP Loan Amendments for the Blythe Village project located at 3572 N. Blythe Avenue, 93722 in west central Fresno (District 1):
Approve a First Amendment to the Community Development Block Grant Program Agreement and a First Amendment to the Community Development Block Grant Promissory Note; and
Approve a Second Amendment to the HOME Investment Partnerships Program Agreement and a Second Amendment to the HOME Investment Partnerships Program Promissory Note; and
Authorize the City Manager to sign the amendments, approved as to form by the City Attorney’s Office.
Body
RECOMMENDATION
Staff recommends the City Council approve a First Amendment to the Community Development Block Grant (CDBG) Program Agreement, a First Amendment to the CDBG Promissory Note, a Second Amendment to the HOME Investment Partnership (HOME) Program Agreement, a Second Amendment to the HOME Promissory Note, and authorize the City Manager to sign the amendments, approved as to form by the City Attorney’s office.
EXECUTIVE SUMMARY
The First Amendment to the CDBG Agreement, Second Amendment to the HOME Agreement, and amended Promissory Notes will provide for the developer to convert to permanent financing while paying off selected project costs such as the construction loan, developer fee, construction management fee, and equity capital investment.
BACKGROUND
On June 19, 2026, the Housing and Community Development Division received a request from the developer for the City’s subordination to a permanent loan in the amount of $15 million, a higher amount than that listed in the CDBG and HOME project budgets. This request did not fully conform with existing language in the HOME and CDBG agreements (se...
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